Moody's assigns Baa2 to Everything Everywhere

Moody's Investors Service said it assigned a Baa2 senior unsecured issuer rating to Everything Everywhere Ltd.

The outlook is stable.

Moody's said the rating reflects (a) its scale, scope and leading market position in the United Kingdom, supported by strong brands, distribution network and an estimated 36% subscriber market share with some 27.5 million customers as of June 2011; (b) strong operating cash flow generation capability; and (c) strong support from Deutsche Telekom and France Telecom, which stand behind the integration process taking place and provide, inter alia, R&D and procurement benefits.

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